Thursday 22 November 2012 12.49 EST
First published on Thursday 22 November 2012 12.49 EST

A targeted programme of student loans is needed to stop postgraduate study becoming the preserve of the rich, the National Union of Students (NUS) warns.

Access to postgrad study – necessary for graduates hoping to enter professions such as law, accountancy and journalism – is based "not on ability, but ability to pay up front," an NUS report says.

It proposes the creation of three different loan pools targeted at the poorest – and the most talented – applicants.

• One stream – open only to those who qualified for a full maintenance grant as undergraduates – would help disadvantaged students who hope to enter elitist professions. They would get a loan to cover fees up to an approved maximum, plus a one-year maintenance loan

• A second pool of employer-backed loans would help those who wish to work while studying part time

• A limited number of loans would also be available to support a broader range of talented master's students.

The NUS say the plans would be cost-neutral because interest would be charged at a high rate for those entering well-paid jobs.

The NUS proposals are "by no means a perfect solution" but they are a starting point towards fairer access to postgraduate study, an area of education which is undervalued by the government, according to Rachel Wenstone, NUS vice-president.

"Apart from the fact that it's logical to have more people in postgraduate study as it has a stimulating effect on the economy, at the moment there's a barrier to entry for poorer students that's immoral and that can't be fixed through commercial loans."

The NUS says that while a handful of bright, underprivileged graduates might get funding from research councils or institutions, the majority of graduates from poorer backgrounds are being excluded from postgraduate education.

It warns that some postgrad students are becoming dependent on "potentially disastrous measures such as credit cards, overdrafts and personal loans".

The NUS excludes from its proposals those studying postgraduate courses that already attract financial support, such teaching, health and social care courses. It also adds that a loan system should not cause an escalation in postgraduate course costs.